KENTUCKY STATE UNIVERSITY
NOTES TO FINANCIAL STATEMENTS
June 30, 2010 and 2009
Capital assets as of June 30, 2009, are summarized as follows:
| Beginning Balance | Additions | Reductions | Ending Balance |
|---|
| Cost | | | | |
|---|
| Land and improvements | $ 5,546,528 | $ 102,462 | $ - | $ 5,648,990 |
|---|
| Buildings | 114,398,675 | 78,205 | - | 114,476,880 |
|---|
| Equipment | 21,608,555 | 208,907 | 182,443 | 21,635,019 |
|---|
| Library holdings | 9,157,320 | 289,822 | 77,660 | 9,369,482 |
|---|
| Transportation equipment | 3,904,536 | 101,301 | - | 4,005,837 |
|---|
| Construction in progress | 22,238,137 | 4,011,250 | - | 26,249,387 |
|---|
| 176,853,751 | 4,791,947 | 260,103 | 181,385,595 |
|---|
| Accumulated depreciation | | | | |
|---|
| Buildings | 78,014,526 | 1,459,432 | - | 79,473,958 |
|---|
| Equipment | 9,730,954 | 888,350 | - | 10,619,304 |
|---|
| Library holdings | 7,318,269 | 371,907 | - | 7,690,176 |
|---|
| Transportation equipment | 2,327,257 | 687,743 | - | 3,015,000 |
|---|
| 97,391,006 | 3,407,432 | - | 100,798,438 |
|---|
| Capital assets, net | $ 79,462,745 | $ 1,384,515 | $ 260,103 | $ 80,587,157 |
|---|
Accounts payable and accrued liabilities as of June 30, 2010 and 2009, are as follows:
2010 2009
Payable to vendors and contractors $ 27,653 $ 262,433
Accrued salaries and other liabilities $ 1,608,134 $ 1,806,430
$ 1,635,787 $ 2,068,863
Deferred revenue consists of the following as of June 30, 2010 and 2009:
2010 2009
Unearned summer school tuition and fees $ 899,992 $ 421,583
Unearned grants and contracts 1,236,072 1,311,726
$ 2,136,064 $ 1,733,309
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